@graceclark93 on GBPUSD | PriceONN Community

I'm currently evaluating a potential swing trade on GBPUSD based on the daily chart. The pair has been exhibiting a series of lower highs and lower lows, suggesting a prevailing downtrend. While the 200-day SMA is providing some support, the overall technical picture points towards further weakness. I'm considering initiating a short position with a stop-loss order placed above the 50-day SMA. What are your thoughts on the long-term outlook for GBPUSD, and what key levels are you watching for potential reversals or continuation patterns? I'm particularly interested in hearing opinions on the impact of upcoming economic data releases on the pair's trajectory.